A freelancer is a self-employed individual who doesn’t have to commit to a single, long-term employer. They work independently for several different companies or clients.
Pros and Cons of Freelancing:
You’re the boss
You can make more money
Work life balance
Happier and Healthier
No job security
There are no benefits
You have to handle accounting
You risk not getting paid
You must able to motivate yourself without prodding from an outside source
Setting Up your WorkPlace
You could sit at the kitchen table, convert that spare room into an office, or set up in a local coffee shop. No matter where you decide, make sure that is free of distractions and fits you needs.
Have a logo that can be placed across multiple mediums. You need a website that contains:
- A statement that introduces yourself to prospective clients, such as education and qualifications.
- Explain the services that you offer.
- Show examples of your work.
- Contact details like address, phone number and email address.
Creating your portfolio
- Keep the following mind:
- Show diversity in your wok
- Include your contact information so it’s easier for clients to get in touch with you.
- Only show the projects that you’re most proud of.
Setting Estimated and rates
Estimate – It’s usually a rough price of what the project will cost the employer.
Quote – It usually ends up being the final fixed amount of the project.
How to determine the price of your services
In this part, there are 3 different strategies:
- Cost Plus Pricing: You determine the expenses involved then add a little something to that amount so that you can turn a profit.
- Market Rate Pricing: Explore how much other freelancers are charging to give you a rough estimate of what, and how, to charge clients.
- Value Driven Pricing: The clients pays for what they believe the service is worth. You must also make sure that you live up to expectations.
Discovering your price structure
Hourly Rate: To figure out how much to charge per hour, answer these:
- How much do others charge?
- What is the maximum amount you can charge?
- What do you need to survive?
Problems with hourly rate! You are not going to work 40 hours per week since you have errands to do. You have to keep track of time. You can use time tracking software that makes this easier.
Daily/Weekly Rate: Your services may only be needed for a just a couple of days or for a week.
Fixed Rate: Charging per project.
Marketing and Promotion
Other ways to get your name out there besides using your website and creating valuable content:
- Create case studies
- Ask past clients to provide a testimonial
- Network in-person at industry events
- Educate others in your industry by teaching a workshop or writing an eBook.
- Get listed in local and online business directories
- Promote your brand through whatever cool stuff
- Offer a free consultation, 30 day free trail, or product
Do a little cold emailing. Search for the name of potential clients and reach out to them. Inform your friends and business associates what you’re up to hopefully they’ll spread the word for you.
Where to find work
- In job boards and freelance websites
- Work for a non-profit
- Remember that, stick to existing contacts, networking opportunities, and promotion
Working with clients
Here are the best ways to work with them:
- Be one the same page
- Have a contract
- Communicate frequently
- Be flexible, but not too much
Clients who wave red flags: Concern with protecting themselves legally. Ask the question, “If i don’t like this, do i still have to pay for it?”. Claims that they have a terrible experience with a freelancer in your field in the past.
Use a calendar to schedule important deadlines or meeting dates with clients. Don’t forget to schedule time for promoting your brand, touching base with clients, and handling tasks like billing.
How to get paid
- Be a professional
- Be flexible with rates and payments options
- Bill up front
- Invoice promptly and freequently
- Never work until you’re paid
- What if a client doesn’t pay? – If the client won’t respond to your calls or emails, then you consider handing the invoice over to a collection agency.
Final words or advice
- Don’t sleep the day away
- You have to pay your own taxes
- Save your receipts
- Have emergency funds.
- You’re not open 24/7
- It’s alright to outsource
- Get comfortable
- Take care of yourself
- You don’t have to accept every job
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